Charitably Giving with Intention – An Introspective – Part 1 – QCD’s

Last spring I became relatively involved with St. Peter’s Stewardship Committee out here in Greenwood Village, Colorado.  With membership ranks and pledged donations struggling, my wife and I developed a plan to drill down into several aspects of charitable giving

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Posted in QCD, Qualified Charitable Distribution, Required Minimum Distribution, RMD

Retirement Savings Contribution Catch Up Considerations

If you will be 50 or older by the end of 2016, you may be able to contribute more money every year to your employer-sponsored retirement plans and your individual retirement arrangements. Contributing more money will help you save more

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Posted in Retirement, Uncategorized

Immediately Effective Changes to IRS ITIN Acceptance Agent Program

According to Brenda L. Hales, Senior Tax Analyst, Internal Revenue Service, ITIN Policy Section-M/S 97-WI of 401 W Peachtree Street NW, Atlanta, GA 30308 the ITIN Acceptance Agent Program includes the following changes made in 2016 and are immediately effective: Certification Process Changes For dependents, Certifying

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Posted in Acceptance Agent, Certifying Acceptance Agent, Individual Taxpayer Identification Number, ITIN

For All Who Travel for Work – New Per Diem Rates Published

If you travel for work surely you are in tune with per diem rates for lodging meals and incidental expenses.  Did you know that your per diem changes based on where you hang your hat for the day or night.

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Posted in Business Expense, Meal Expense, Per Diem

What to do WHEN you disagree with the IRS

The IRS Office of Appeals offers taxpayers an opportunity to resolve their tax disputes without going to court. Appeals is an independent function within the IRS that provides an impartial review of your tax dispute. Appeals also offers mediation services

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Posted in IRS Appeal, IRS Audit, IRS Collections, IRS Enforcement, IRS Examination, IRS Mediation

New Requirements for ITIN Applicants

New requirements implemented for dependents whose passports lack a date of entry stamp into the U.S. Beginning Oct. 1, 2016, the IRS will no longer accept passports that do not have a date of entry into the U.S. as a

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Posted in ITIN

Why You Should File Past Due Tax Returns NOW

Regardless of whether or not you are able to pay your tax liability in full, you should file all tax returns that are due. To do so, file your past due return the same way that you would file a

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Posted in IRS Collections, IRS Enforcement, IRS Mediation, IRS Penalties, Non-filed Tax Returns, Penalty, Tax Guidance & Preparation, Tax planning, Tax Problems & Requests, Taxpayer Advocate

Lessons Learned Preparing & Defending IRS Form 8938 – FATCA

Foreign Financial Asset Reporting (FATCA) - Form 8938 was enacted March 18, 2010 and requires filing of Form 8938. The FATCA requirement does not replace or otherwise affect a taxpayer’s obligation to file an FinCEN Form 114. Basically if you are a US

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Posted in FATCA, FBAR, Foreign Income, Foreign Investment, International Tax, Tax Treaties

Foreign Earned Income for U.S. Overseas Taxpayers

The following was prepared by IRS Employees Bethany Barclay, Technical Specialist LB&I Division & Tracy McFee, CPA Technical Specialist LB&I Division regarding Foreign Earned Income Exclusion (FEIE). Tracy and I met as guest panelists on the hit TV Show Tax

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Posted in Foreign Income, Foreign Investment, Foreign Tax Credit, International Tax
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